VRChat is a big game, and I'd say definitely the most popular and successful "Metaverse" for whatever that terms actually means.
I see most people talking about the positives of the Metaverse and Web 3.0 comparing it to a lot of the things I mentioned before. They say it will be a new form of media, moving away from webpages and traditional social media, where entertainment, socialization, and work is baked together in a massive online environment. Facebook/Meta wants this to be the future of social media, and everyone is effectively in consensus that video games is the primary basis for this new form of media. I feel like a successful Metaverse in Zuckerburg's mind has to be at least on par with Facebook at its peak. Minecraft and Fortnite are also brought up often, and both have shops with in-game currencies and character skin packs and microtransactions aplenty.
But as said before, VRChat is kind of at the perfect goldilocks size where it's big enough to foster a good community and creator support, while being small enough to avoid the cease-and-desist letters. It can't get bigger, or it will inevitably fail. It's a misread from corporations on why people like online spaces, in the service of creating new avenues for revenue.